Search results: Do Kwon

Top blockchain and crypto news: Terra puts down the fork. Bitcoin loses its shine in Singapore. China’s miners dig in.

Terra’s LUNA and UST stablecoin implosions are roiling the crypto world and beyond. Picking up the pieces won’t be easy — nor finding a good path forward.

TerraUSD (UST) and LUNA’s crash is causing tension among South Korean play-to-earn (P2E) projects and their tokens, such as C2X, a blockchain gaming project on the Terra mainnet developed by Com2uS. See related article: Do Kwon proposes Terra fork to ditch UST and ‘LUNA Classic’ Fast facts Local gaming giant Com2uS’s P2E cryptocurrency C2X saw […]

South Korean financial regulators have reportedly begun an emergency assessment of digital assets, geared toward accelerating the establishment of the “Digital Asset Basic Act” — the country’s upcoming regulation on cryptocurrencies. See related article: LUNA pumps and dumps repeatedly in weekend’s roller coaster run Fast facts The LUNA debacle will likely speed up the enactment […]

LUNA, the collateral used by Terraform Labs to back its TerraUSD (UST), has been in a freefall. But experts tell Forkast the crisis is likely to make the pioneering stablecoin stronger, and the community behind stablecoins better.

TerraUSD (UST) climbed to a high of US$0.84 on Thursday after Terra proposed a network upgrade to increase the blockchain’s native token LUNA, in hopes to save its algorithmic stablecoin’s peg to the greenback.   See related article: Run on UST cuts the ground from under Terra’s feet Fast facts The UST is minted by locking […]

A probable run on terraUSD (UST) has weighed on the ability of the company and the non-profit behind the pioneering stablecoin project to defend its dollar peg.

TRON founder Justin Sun announced on Thursday a new decentralized dollar-pegged algorithmic stablecoin on the Tron blockchain called USDD. See related article: What are stablecoins, and why are some governments so afraid of them? Fast facts The TRON Decentralized Autonomous Organization (DAO) intends to raise US$10 billion within the next year to fund a crypto […]

Terraform Labs (TFL) and the Luna Foundation Guard (LFG), the non-profit behind the Terra ecosystem, have acquired US$200 million worth of Avalanche’s AVAX tokens, diversifying its TerraUSD (UST) reserves beyond Bitcoin.  See related article: Terra’s US$10 billion Bitcoin Bet Sends LUNA to Record High Fast facts LFG purchased US$100 million worth of AVAX using UST […]

Terra’s LUNA, the eighth largest cryptocurrency by market capitalization, reached a new all-time high of US$106.14 on Tuesday early afternoon Asia time, following a US$135 million purchase of Bitcoin.

Bitcoin, the largest cryptocurrency by market capitalization, crossed US$47,000 on Monday Asia time after a sudden spike, the first time since early January.  See related story: Bitcoin wakes up to pass $40,000 before going back to sleep Fast facts Bitcoin has traded below US$45,000 since January, but broke out to trade at US$46,823 on Monday […]

Volatility has been the name of the game in the past few months, but experts tell Forkast that may be coming to an end.

Terraform Labs CEO and founder Do Kwon has accepted bets worth millions of dollars on Terra’s cryptocurrency LUNA trading higher than US$88 in a year’s time, which was the price of the token at the time of the bet. See related article: Is Terra — whose LUNA coin is now at another all-time high — […]

LUNA is now the 12th largest crypto, and Terra’s platform has been called ‘Alipay on the blockchain.’ What are Terra’s investment risks? Forkast.News explains.

The securities markets regulator ordered $3.85B in fines, while new actions included ‘emerging threats’ in the crypto industry.

Iron Finance, once a DeFi darling, went from billions to bust in a day. Should investors have seen the crash coming? How stable are algorithmic stablecoins?

Binance’s BUSD and Huobi’s HUSD dominated their stablecoin rivals in the first three months of this year. Why is Asia hungry for alternatives to fiat?

Thailand’s central bank says it is ‘open’ to considering stablecoins but declares Terra’s THT to be illegal. What does this mean for Tether or USD Coin?

The financial watchdog contends the payment may be intended to avoid future judgments and should instead aid investors and creditors.

Grayscale and BlackRock’s ETFs lead a bullish debut for newly listed Bitcoin ETFs.

The CEO of blockchain services provider Consensys and co-founder of Ethereum spoke to Forkast at the Token 2049 crypto conference in Singapore. He discussed decentralization and what he sees as the crucial role to be played by blockchain in AI and vice-versa.

Top blockchain and crypto news: Coinbase steps up to fill void of crypto lenders. NFTs extend losses. What’s next for crypto as Singapore gets a new president?

SEC seeks to appeal a court ruling in July that the programmatic sale of Ripple’s XRP cryptocurrency did not qualify as sales of financial securities.

Officials at the U.S. Department of Justice (DOJ) are considering fraud charges against Binance, according to news site Semafor.

Bitcoin rose on Monday morning in Asia to reclaim the US$30,000 support level. Ether moved higher, while most other top 10 non-stablecoin tokens also gained.

While Asia nations such as Singapore and Thailand seem to be following the U.S. regulator in frowning upon certain products offered by crypto exchanges, the approach in Asia so far seems to be clarity instead of court battles, in contrast with North America

Bitcoin rose in Wednesday morning trading in Asia to reclaim the US$28,000 mark, with Ether and all other top 10 non-stablecoin cryptocurrencies moving higher.

The U.S. House Financial Services Committee is set to hold a hearing on April 19 to discuss a draft bill released over the weekend on regulating stablecoins, a class of digital currency designed to offer price stability by being pegged to another asset’s value.

This year’s cascade of crypto collapses should be a wake-up call to regulators, says the Independent Community Bankers of America’s Brian Laverdure.

Federal prosecutors are reportedly investigating Sam Bankman-Fried for possible market manipulation that led to the Terra-LUNA crash in May

The Genesis brokerage arm of the Digital Currency Group is one of the latest cryptocurrency platforms to lock down withdrawals following the bankruptcy of crypto exchange FTX, and the freeze is spreading.

The Financial Stability Oversight Council report says the lack of clear regulations in the cryptocurrency industry could pose a risk to overall U.S. financial stability and urges congress to write up new rules of the road.

Kevin O’Leary plans to launch a Web 3.0-focused investment fund called Cipher, the Shark Tank investor told Forkast Editor-in-Chief Angie Lau at the Converge22 blockchain and cryptocurrency conference on Wednesday in San Francisco.  See related article: Capital gains: How Web3 property rights can transform the digital economy Fast facts “We’ve got to get away from this […]

When is a cryptocurrency a security and when is it not? Financial regulators around the world are raising that question. The answer that comes out of the U.S. may set the tone, but South Korea is also ahead in tackling it.

The crash of Terra-LUNA threw the entire crypto space into a dark funk, and raised questions about the safety and role of stablecoins. CFTC Commissioner Caroline D. Pham offers a regulators’ viewpoint at a Forkast+ exclusive event.

A perceived failure to address increasing fraud in the NFT industry prompts calls for regulation and the adoption of a more centralized approach to weed out bad actors.

India’s chief economic adviser V. Anantha Nageswaran compared cryptocurrencies to the “world of Caribbean pirates” in the absence of regulation where “winners take it all” from somebody else, local media reported.  Fast facts See related article: Coinbase blames India’s central bank for exit Cryptocurrencies fail to satisfy basic requirements such as having store value, widespread […]

Singapore’s Deputy Prime Minister Heng Swee Keat cautioned retail investors to steer clear of investments in cryptocurrencies, saying the nascent asset class “is a highly risky area.”  See related article: Singapore wants to bring some adult supervision to crypto Fast facts Many investors suffered losses and even lost their life savings in the recent meltdown […]

Advocates for central bank digital currencies argue their inherent stability supersedes any benefits so-called stablecoins, algorithmic or otherwise, could offer.     

StepN limits their services in China. Meanwhile, Terra 2.0 poses questions relating to investor trust.

Terra’s LUNA and UST implosion is dragging down an already ailing market. What do other developments suggest about crypto’s long-term future?

South Korean LUNA investors file lawsuit against Terra. Meanwhile, Singapore’s High Court blocks sale of a Bored Ape NFT.

Indian crypto traders may soon be able to pay the crypto tax using foreign exchanges. Meanwhile, the Terra revival plan vote finally goes live.

Jeremy Allaire, CEO of Circle, which issues the second-largest stablecoin USDC, claims to have foreseen Terra and algorithmic stablecoin UST’s collapse six months ago because it was “a house of cards.” See related article: Terra shuts down indefinitely after coming back online; LUNA, UST still on life support Fast facts “There were two things that […]

Bitcoin is now a reserve asset for Terra’s UST. What does this portend for the $186 billion stablecoins market?

In a special Q&A, a core contributor to the rapidly expanding Cosmos ecosystem discusses the ‘internet of blockchains’ and the new cross-chain economy.

Countries acted to encourage — or discourage — cryptocurrency and other blockchain-based assets, sending markets wildly up and down.

An investor who received $1.25M in Bitcoin by accident will not be criminally penalized, raising questions on the legal status of cryptocurrencies.

The impresario behind superstars BTOB and (G)I-DLE tells Forkast.News there’s ‘no upper limit’ to how much Cube will invest in NFTs and a metaverse for concerts.

The Cosmos ecosystem is expanding rapidly with inter-blockchain transfers on the rise. What makes Cosmos different from other blockchains? Forkast.News explains.

Animoca Brands, a Hong Kong-based blockchain gaming unicorn, announced today that it has teamed up with Cube Entertainment, a major K-pop entertainment agency, to form a joint venture dedicated to building a music metaverse and issuing non-fungible tokens (NFTs), joining a slew of K-pop labels to make forays into the NFT and metaverse space. Fast […]

A South Korean tech company is partnering with the largest organization of professional journalists in the country to develop digital tools and techniques to tackle problems in the journalism industry. Fast facts Media technology developer PUBLISH recently announced signing a memorandum of understanding (MOU) with the Journalists Association of Korea (JAK), which represents over 11,000 […]

NH Nonghyup is the third bank in South Korea to invest in a virtual asset custody service while they are prohibited from running their own.

China fallout hits mining meanwhile Korea digital custody competition heats up

South Korean cryptocurrency exchanges have delisted an estimated 200 crypto coins this year, according to a lawmaker who also says the country’s financial authorities have not prepared appropriate standards for crypto listings and delistings. Fast facts People Party legislator Kwon Eun-hee made the statement in a proposed bill, asserting that 20 virtual asset exchanges in […]

Other top news: China’s BSN blockchain network expands global reach. US lets major banks act as crypto custodians. VC in India and Singapore.